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efforts to resolve the fiscal cliff. they emphasize the lines of communication remain open. >> gregg: new fallout for the australian radio station behind that royal prank a call. they tricked a nurse into thinking they were the queen and king of england. now the radio station is ordering a review of the station's policies. a lot more in the next hour. >>> venezuelan president hugo chavez announced that his cancer has returned. he is traveling back to cuba and he is announcing that vice president should take his place as successor. arthel nevil is following this. >> reporter: those treatments include what president chavez called a new surgical intervention, speaking to a national audience from the national palace he gave details about tests that indicated some malignant cells returned to the same areas where previous tumors had been removed. in his first reference to any possibility that if his health were to further deteriorate, he says his successor, the vice president would take over for him until his new presidential term begins in january. if chavez cannot attend his inauguration the
a good policy and avoid the fiscal cliff. >>> a court arrangement on new charges for the man accused of kidnapping and killing missing sierra lemar. he faces three counts of attempted kidnapping charges in connection with attacks on three women in 2009 in the parking lots of safe way stores in morgan hill. he is expected to enter a plea to the kidnapping and murder charges in the sierra lemar case. >>> san francisco police arrested five people including four women in connection to a homicide where the victims were found tied up and gag and -- gagged and left in the middle of the street. one of those victims died and they have arrested two people on murder charges. three others are facing accessory after the fact to murder and they say the victims knew the suspects. >>> the sinkhole in lafayette is expected to be done earlier than expected. c.c. meyers specializes in emergency repair work and his crew started fixing that hole which opened up on mountain view drive during the last few storms. that work could be finished on christmas day but that work was supposed to be taking months. >
respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak with speaker boehner yesterday on the phone. we know nothing about the call except they talked on the phone. we do know that the last offer, the counteroffer was made by the republicans. they're waiting for the white house. the white house at the same time says come on, we don't have another counteroffer because your last offer was a stinker. you, republicans, need to come up with a new one. >> gretchen: the thing is, they're playing hard ball right now. the white house has sent out tim geithner, the treasury secretary, instead of the president actually, to lead the negotiations and when he was asked yesterday in an interview, tim geithner, that is, whether
that will surprise you. >> what is the fiscal cliff? >> honestly, we're from new mexico just helping out here to clean. >> no idea. >> cliff? >> how tall is it? >> i don't know. no idea. >> where is it? >> can i go? >> bad news. it's bad news. fiscal cliff, end of the world apparently. >> is it a dangerous cliff? >> it seems to be. >> how do you feel about it? >> i'm a middle class woman what, do you think? >> the economy pew. >> is embarrassing. >> that's what they're paid for. >> what's going to happen if they don't? >> we're going to lose some money. [ laughter ] >> it reminds me of like something i probably learned about in school. but i'm going to guess some type of cliff, like mount avalanche cliff. >> how tall is it? >> i'd say at least like 370 some feet. [ laughter ] >> steve: very nice. >> gretchen: how about $16 trillion? >> we heard 70 different responses. we took the cliff bars out and said, is it this? is this the fiscal cliff? some people said, oh, yeah, it is. another guy said t sounds like something really gross you might eat. another person said it sounds like a movie, the f
on the fiscal cliff. hear the new proposal from congressman paul ryan and senator mark rubio. >> steve: will he work with the liberal media. president obama extends extra special invites for sit down with liberal gabbers. >> brian: he is one of america's favorite coach. his career almost ended early and fans had no idea. the coach revealed something for the very first time. by the way. "fox and friends" starts now. ♪ ♪ "fox and friends". >> steve: you must be conflicted today. >> brian: in what way? >> steve: we have coach k on and any time we have peitro, the super model who has been a friend of your manies, many years. >> brian: i am looking forward to nick rangon. >> gretchen: you will have to duke me out for it then. >> brian: you start with him in 10 minutes. >> gretchen: you want to trade coach for nick it will coach you. >> brian: and edrolins to be named later. >> gretchen: and i always like rolins. >> brian: pet up with us. she was a young super model. >> gretchen: does she know she was off your list. >> brian: not a world. can we agree as well that is our secret. >> steve: she doe
is holding firm in the face of sandy, in the face of fiscal cliff concerns, so that's good news. >> so if you look at one of the things that struck us obviously the one negative number is construction, doeses that bounce back in a way that's maybe overdone because of what ends up being a sandy effect to the positive? >> yeah. so i suspect the construction employment numbers will get if not revised up, we'll see much stronger numbers going forward. just simply because of the reconstruction related to the storm. my guess is some of those big retail employment gains you referred to, those where we'll see some downward revisions in the data where we'll see some weakness. leisure and hospitality type jobs would be affected by the storm and i'm not sure anyone else is picking that up. >> a year ago 8.7%. now 7.7% a. year from now are we going to be below 7%? >> you know, i don't think so. it's very surprising we dropped a whole point in a year given the economy's growth race. we're going 2%, 2.5%. a year ago i never thought we'd drop a full point in unemployment. my guess is a year from now we'll b
there may be only two people at the fiscal cliff negotiating table. according to the new york times house speaker john boehner says he wants to negotiate directly with president obama. he has asked that senate leaders and house minority leader nancy pelosi be excluded from future talks. and clearing a negotiating room improves the chances for success. just 25 minutes from now the closely watched monthly unemployment report will be released for november. coming up at 5:15 what economists say the numbers released this morning don't accurately reflect the current jobs market. >>> time now 5:05. reports an oakland church youth group visiting florida today is out of money and their belongings because thieves broke into their van. a group of 24 teenagers and young adults were eating at a restaurant yesterday. about an hour after arriving for a weekend youth conference. they are saying thieves broke into their van, stole $12,000 cash. one member of the group was able to have money wired to them so they at least spent last night in a hotel. there is no word yet if this group plans to come back to
hikes during fiscal cliff negotiations. congressman boehner is starting a news conference that is scheduled to start any hour now. >>> also, we could hear president obama's response to speaker boehner's offer. he is is publicly pushing his plan to raise taxes on the wealthiest of americans. we'll bring that to you 50 minutes from now. >>> lawmakers are listening to responses of superstorm sandy. they are going to demand more funds for the cleanup. this is the third of four hearings scheduled. >>> and in houston, a history making mission to the international space station. scott kelly, the american astronaut, will speak about his next launch. if all goes as planned, it will set the longest record for a space mission for an american. we'll see what he's saying. "newsroom" starts right now. >>> good morning. thank you so much for being with us. i'm carol costello. this should be interesting. speaker john boehner is meeting with house republicans who are angry at his new pitch to raise 8$800 million in fiscal cliff negotiations. we're expecting a news conference any minute now
to discuss the fiscal cliff tug-of-war is a democrat from new york state, senior house of the financial services committee, representative meeks, good to have you with us. let's turn to entitlement spending. that is of high importance in solving the fiscal cliff negotiations and in a longer term way bringing the country to a sustainable fiscal course. what specific changes to medicare or medicaid would you be willing to imbraes today right new that would slow the growth in our medical spenting? >> i'm not going to debate the specifics on television. i think that what the president is doing, is clear that he has indicated that we have to raise the tax rate. the tax rates, bush tax cuts, was temporary in nature. >> that's not what i asked. i asked what specific would you be willing to do to address what is clearly the number one thing that is going to blow the hole in not only the economy but federal spending, federal budget over the next generation. >> what we have to do is negotiate. everything should be on the table. i think the president indicated that everything would be on the table
workers if we go over the fiscal cliff so why does a new manpower survey show more companies are planning to hire workers in the first quarter of '13 than lay them off. we'll speak exclusively to the company's ceo to try to figure this out still to come on the "closing bell." stay tuned. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> jpmorgan has released its outlook for next year, and it's a figure fi
growth. the fiscal cliff still looming. new survey finds more than half of leading investment professionals expect a deal, though, before year end. but it's their opinions on what happens if a compromise isn't reached that is troubling. and sec warning to netflix raising questions about how
family about $2,000. 22 days 'til we hit the fiscal cliff and some promising news, i think, is when we found out the speaker and president actually met yesterday to talk to each other and we don't know really what happened. we do know if you point to senator corker and coburn and now congressman cole, there seems to be a movement on the republican side. like it or not, to move up the rates on higher brackets from 35 to 39. >> gretchen: only if we get something in return. the way i'm reading this, some are saying maybe it is time for us, we don't like it, but good faith effort, we will agree to raise taxes, but only if the president and his team then agrees to cut back on entitlement spending specifically. >> steve: and while neither side yesterday released any details of what the speaker and the president did talk about yesterday, perhaps when the president goes to michigan later today and does have a chat in front of cameras about the fiscal cliff, perhaps he will reveal some details to figure out where things are going, or at least the basic contours of it. it was very clear yesterda
progress, if any, made going over the fiscal cliff. michael lyndon they have a whole new plan that they've put forth which goes even further than president obama or congressional republicans may want to go. but first... >> this is the "full court press." >> other headlines making news on this thursday. that is a bunch of malarkey. turns out not a lot of people know what that word means. it is a favorite of vice president biden's and it set a record on the merriam webster dictionary web site for the most online lookups during a single 24-hour period this year that came the day after the vice presidential debate against paul ryan where he used the word for the first time. the irish-rooted word means insincere or foolish talk. >> bill: inta. if he had said b.s., everybody would know what he was talking about. >> did not make the most looked up word for the year. the most looked up words in the dictionary capitalism and socialism. they were the most looked up words on the web site. >> oh, god. >> bill: that sh
boehner speaking by telephone on tuesday changing fiscal cliff proposals. reducing new tax revenue from 1.6 to $1.4 trillion over five years. but they're jockeying on who should spell out the specifics on the spending cuts. walmart's ceo mike duke expressed concerns about the fiscal cliff. >> the week before the election, only one-fourth, 25% of our core customers even knew what fiscal cliff meant. okay? one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us, this discussion about fiscal cliff will affect what they spend on christmas. >> that's a fascinating read on -- >> i wonder who's doing the surveying? how is that occurring? >> greeters? >> i would be curious how they know those percentages. do they ask people at the -- >> yeah. >> and can you define the fiscal cliff? i don't mean to question the methodology, it's interesting. >> just curious. >> i think that when i was in washington, i got the sense that there were just a lot of people there who actually thought romney was going to win. and there would be no fiscal cliff because
've been gone for five days and we're talking fiscal cliff? word is there are new signs of progress. we'll talk it over with joan walsh next as "the cycle" rolls on for tuesday, december 11th, 2012. ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. and also to build my career. so i'm not about to always let my frequent bladder urges, or the worry my pipes might leak get in the way of my busy lifestyle. that's why i take care, with vesicare. once-daily vesicare can help control your bladder muscle and is proven to treat overactive bladder with symptoms of frequent urges and leaks day and night. if you have certain stomach or glaucoma problems, or trouble emptying your bladder, do not take vesicare. vesicare may cause allergic reactions that may be serious. if you experience swelling of the face, lips, throat or tongue, stop taking vesicare and get emergency help. tell your doctor right away if you have seve
has been made on resolving the looming fiscal cliff. more morial, former mayor of new orleans. we'll talk about the giants and the saints at the end of the segment. you must be encouraged by the unemployment rate coming down and the growth in jobs despite several headwind in the economy. >> it's better news. it's 33 months of continued job growth but make no mistake about it, the economy is still in suspended animation. still not growing fast enough to make up for all the ground we lost. but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we need wages that grow as fast as inflation or faster than inflation. >> how do you get that? >> well, it is difficu
opposition to new revenues as the fiscal cliff clock ticks down. this is what he said earlier on "squawk box." listen up. >> raising tacks is always bad for the economy. that doesn't change. raising taxes is what politicians do instead of reforming government. the reason we haven't reformed entitlements, the reason we haven't reined in spending, politicians go we'll raise taxes and backfill. >> representative kevin yoder, a republican from kansas, sits on the house appropriations committee. a plum assignment especially for a freshman. he's one of a handful of republicans who did not sign the norquist taxpayer protection pledge. congressman yoder, welcome. why didn't you sign the pledge and are you happy you didn't? >> i didn't sign pledges. i don't believe our job is to make a pledge to a third party group. my pledge is to the third party district. as the debate wages on on how to get off the fiscal cliff. i'm not one to make a pledge to a third party group. how do we get through the situation, find the best result for american people. there's a lot of opinions out there. we have to listen t
when the president calls for all the new taxes in the fiscal cliff negotiation, mr. president we already have a big tax increase that will hit on january 2nd. that of course is the obamacare taxes. you mentioned one of them, the tax on medical devices and medical equipment, bill, which i agree with, congressman price. that will reduce innovation and will reduce the kind of invention and new products we need to keep people healthier. in addition to that, bill, don't forget there is something called 3.8% investment tax surcharge in the obamacare bill that starts in january. one of the things that the president says is a little misleading i will only raise tax rates back where they were in the clinton era. you heard him say that a lot of times, bill. he is not including that 3.8% investment tax that will raise the taxes higher than they were in the '90s. bill: i see. seeing it right here. if you make more than $200,000. >> that's right. bill: if you're in a household of 250 or above, subject to a new 3.8% tax. well, you know, ultimately republicans argue this is coming down on the b
have won. >>> house speaker john boehner spoke by phone tuesday exchanging new fiscal cliff proposals. the president gave boehner a revised offer on monday and he went down a couple of hundred billion from 1.6 trillion to 1.4 trillion over ten years. in an exclusive interview with barbara walters, of "abc news," president obama says he still expects a deal before the end of the year. >> remain optimistic there are enough people of good will in this country families will be much better off when we get this done. the most important thing is make sure middle class taxes don't go up on january first and i'm pretty sure republicans would not hold middle class tax cuts hostage to protect tax cuts for high income individuals. >> prediction, are you going to be able to raise taxes yes or no? >> taxes will go up one way or another. the key is to make sure taxes go up on high end individuals, like you and me, barbara, we can afford it. >> you can see the rest of that interview on abc's 20/20 this friday. hopefully, you will hear barbara walters come pellingly say will be able to cut spending? d
supports the fragile economic recovery. he said it's not enough to keep us from going over the fiscal cliff but it could help to cushion the fall. >>> a new trip survey shows almost half the people asked plan to be away for the holidays. two thirds will be visiting families and 07 percent is planning on spending more. >>> today you will automatically get the file and twitter will place a gray default photo in there if you top know how to. >>> time now 5:51, accusing a reality television show of cheating. why they say don't believe what you see on the screen. >>> and they are making some couples say the best day to get married is today. q . >>> a big-rig making an illegal turn caused a crash. a car crashed into that big-rig as it was making that u-turn and shortly after another car drove up on that site but he come see anything because of that fog. he spilled all the cargo and the road was closed as crews cleared the scene. >>> two glass doors were smashed at the store yesterday. thieves stole percent and some almost 430 and they say macy's has turned over surveillance video and they believe
story. house speaker john boehner sent the president a new fiscal cliff counteroffer, we'll have more on that in a minute. and a change in the house plan, the house will come in at 6:30 eastern with one vote on what's called the journal, the record of the previous day's proceedings. members will not vote today as they had planned earlier on a motion to negotiate with the senate on the bill to set defense programs and policy for next year. and as the fiscal cliff negotiations continue we spoke earlier today with a capitol hill reporter. >> what was the purpose of speaker boehner's appearance to speak about the fiscal cliff? >> you saw each major congressional player give some sort of speech but i think anything happening of consequence is happening between speaker bayne around the president and it's happening in a closely guarded, off-camera, way, they're actually trying to negotiate a deal and the rule of washington is when a deal is being done, people don't talk about it. when a deal is collapse, you know because they're both shouting about what the other side is doing. you saw speak
the past few days, regardless of the news, which hasn't really improved on the fiscal cliff definitely that is a solid dollar betts in the direction that say that people think is going to resolve in a positive way. >> and positive is pre-january 1st or positive at this point is january 15th? >> good point. i would say it's probably the 13th or 15th of january, not tend of the year, and that's where the focus comes back to the fed tomorrow. unlike before, and probably for political reasons, the fed has been a little bit tight lipped about the details of what they would do. so what buckets they buy in, would they mess around, dudley had a big concept, they might want to mess around with mortgages again. that kind of information would be probably more leaked out to the marketplace by now if it wasn't for the fiscal situation. so there's quite a bit of uncertainty and the fed will definitely have -- it will make for a really exciting process tomorrow. >> it's exciting presser? have they ever done an exciting presser? >> this is his chance to really prove it, i think. yeah. and the surprisi
of the talks we've heard about the fiscal cliff, we've heard about balance and new tax revenue. but we don't hear balanced a budget. i think -- balanced budget. i think this speaks to how bad the situation is in the federal government when both parties don'tage knowledge that. as for -- don't acknowledge that. as for what's going on, just downstairs from me, speaker boehner started throwing cold water on any report that the talks were moving ahead. yes, there have been an exchange of offers. he said the last couple of days, but he said his phone call last night was a frank discussion about just how far apart they are. with 19 days left until the deadline or nine days until the end of the world, if you are look at the mine cardinal, nobody knows which way -- calendar, nobody knows which way we are headed. >> isn't this part of the we're so far apart publicly. but suddenly, they will announce miraculously they've reached a deal? >> reporter: i think for those of us here trying to cover us, it's the hardest thing to try to figure out since you are not et going the inside part of this. how muc
at the new york stock exchange. as we hurry toward the edges of the fiscal cliff, this market holding its breath. but holding up. >> yes, so far. technology one of the few bright spots with apple rebounding after that huge decline we saw yesterday. its worst day in four years. it's got everybody on wall street scratching their heads trying to figure out what the problem is with apple. at any rate, here's where we stands right now. sort of a meandering day for the markets. some economic data out this morning. the market responding to that. then a sideways move after that. the nasdaq benefitting from the rebound in technology yesterday. up 11.5 points on the thatnasda. the s&p is also trading higher. there it is. up 2.5 points on the s&p. >> meanwhile, bullish sentiment at an eight-month high right now. equity allocation is still at the lowest level of the year according to the american association of individual investors survey that was out this weekend. stock in a wait-and-see mode. totally understandable until these fiscal issues are resolved. >> but don't just sit on your hands. there i
. 25 days now until america goes over the fiscal cliff if nothing happens. congress still in a political stalemate. the house of representatives are taking the weekend off. when it comes to solving our debt problems, we know where both parties stand but what about the people who will have to live with the decisions? what do americans, average americans, want to see in a fiscal cliff deal? steve leisman here now with our exclusive results of the cnbc all-america economic survey. what do americans want, steve? >> what you would expect. free stuff, tyler. actually, no, we'll get into that in a second. first we want to show you results of our december cnbc all-america survey. what we asked about the fiscal cliff. the first thing we wanted to establish is do people know about this thing? we looked at some of the other times we've asked this. what we'll see right here is other situations where they knew it, where other main stories that were out there. for example, the trayvon martin shooting. 91% of americans knew about that. occupy wall street, 80%. going forward what you have
in the new part of the new year, there's not a solution early that deals not only with the fiscal cliff but also the fiscal abyss, that he expect this is to start affecting hiring plans for 2014, as well. is that a serious concern for your manufacturing base at this point? >> i think it is a very serious concern. we did a survey, a study a couple months ago called fiscal shock. and it showed that we've already seen a 0.6% contraction in the economy because of manufacturers concerns about the fiscal cliff that's coming up. and the report also showed that if we go over the cliff, meaning if we just go over it in the first few days of next year, that we could have a 13% cumulative contraction in the gdp between now and 2015. and 6 million jobs lost. now, a lot of those will come from small and medium sized manufacturers who just aren't willing to take the risk, but i think you're talking to doug in a little bit and larger companies like caterpillar and doug is the incoming chair of the national association of manufacturers, companies like caterpillar rely on those supply chains. so they wa
, walmart ceo mike duke says the fiscal cliff debate is having an impact on consumers. speaking to the council on foreign relations in new york, duke says what's going on in washington could affect their holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. okay? one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us this discussion about fiscal cliff will affect what they spend on christmas. >> and most americans aren't close to finished with holiday shopping yet. giving retailers a hope for a big boost in the last few weeks beforesom christmas. 58% of those surveyed said they completed half or less of their holiday shopping so far. i've got a little guilt on that front. >>> joining us for more, global ceo of sanrio. welcome. waving to the world there. >> yes. >> happy holiday. >> wearing your brand, as well. >> happy holiday from mr. mann. >> we should point out that mr. men is a key part of your strategy which is changing, is it not? >> exactly. last
all we have been fooled a couple times before but now you have the fiscal cliff. hanging over this entire sector. toll brothers ceo joining me now in a fox business exclusive from pennsylvania. i am so glad you are here because we could very easily say house business. but i'm assuming business is looking a lot better. my question to you is what is the number one indicator to you that your business is actually on a sustainable turnaround and we could be fooled again. speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our clients can get mortgages. our buyers tend to put a lot more money down. they mortgage a lot less, very high credit ratings. we are
about, the fiscal cliff, are we getting closer? is there movement in the negotiations? there seems to be signs of that. that's how we get started in the brand-new hour of "america's newsroom" on wednesday. i'm martha maccallum. bill: i'm bill hemmer. today's remarks come a day after a speech on the floor of the house. here is some of what the speaker had to say about where we are in his view at the moment. >> we are still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. where are the president's spending cuts? the longer the white house slow walks this process the closer our economy gets to the fiscal cliff. martha: so what is really going on in this negotiating right now? where are both sides? the white house continues to insist that it is republicans who have yet to offer any detailed proposal to themment when speaker john boehner comes to the microphone moments from now, in every one of these you can pick up a little bit of the tea leaves and figure out where this mi
't that be interesting if in fact, simon, we rally past the fiscal cliff. we get a deal that somehow buys a new market, and then get into early next year and realize that the economy was weakening on its own. of course, we are going to get at least some gdp hit already, because we're probably still unlikely to see an extension of the payroll tax relief. so that would be really funny if after all of this, the correct position was to have bought stocks and held them through the second half, and to sell into a rally after a very weak fiscal cliff deal. >> the health care, let's remember, the health care is on the way whether we like them or not. people will be paying more come january the 1st, chuck. >> there's no question about it, simon. but again, there's still -- we can't lose sight of the fact that this is delicate, this last bit of negotiation. if what andy is talking about to happen, a grand bargain, it's very delicate to put that together in a way that doesn't disappoint liberals too much in the house or conservatives too much in the house, we could still have a t.a.r.p. moment there. i think and
on in town. in washington news, both parties hinting at renewed talks on the fiscal cliff. the acknowledgement of open lines of communication passed for encouraging news. a new survey finds more than 60% of leading investment professionals predict a shorp stock decline in the market if the government fails to come up with a deal. in this case defined as a more than 10% drop in the dow. 56% surveyed foresee a deal to avoid the cliff by year end, 44% predict failure in the ongoing negotiations. as for corporate america, through yesterday's close, there have been # 70 announcements of special dividends. these special difference deebds are valueded a more than $30.1 billion. among the latest names, mcgraw hill will pay a special dividends of $2.50 a share before year end. and drop its previously announced plan to buy back up to $200 million more of stock this year. >> everybody's paid their dividends this year, so they won't be paying them next year. >> this is a major issue. what's going to happen is -- we have two great economists onset. but that money will get annualized, s
. >>> the standoff over the fiscal cliff is putting jobs here in california and alison burns has more on this. >> reporter: and secretary panetta has warned the fiscal cliff would hurt our national defense. he's expected to hold a news conference any minute now. he's getting the order from the white house to brace for massive budget cut us. now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be amo
the fiscal cliff. these are live pictures of the president at the business round table. he will be speaking later today to a group of native-american tribal leaders, more than 500 of them are concerned about how deep spending cuts made to avoid the fiscal cliff would affect native-american issues. and you may remember yesterday, the president met with a group of six governors on this issue. this has become the primary focus on washington. alison burns is in our d.c. newsroom with more on this. >> reporter: that's right, tori. president obama is trying to convince these business leaders that he has a plan to avoid the fiscal cliff and get the economy back on track. but he says it's going to take some sacrifice. here's a look at the president shaking hands with business leaders about 15 minutes ago and he's calli for tax increases on the wealthiest americans and an extension of tax rates for the middle school. talks have fallen apart in recent days. but the president insists he's working with republicans to try to get a deal. republicans are willing to cut -- >> reporter: republicans are wil
the history of new york city, albany. next, a discussion on the impact of the so-called fiscal cliff on unemployment insurance. then a forum on skilled immigrant labor and the american economy. after that, speaker john boehner and representative pelosi on the fiscal cliff negotiations. >> we have had these explosions of knowledge in medicine, but we have not coordinated care and all of the services that we have end up having cracks that they are as harmful as the diseases that we are treating. you need to step back and ask -- are we hurting people overall on a global level? what are we doing sometimes? now we have the institute of medicine report to think. 30% of everything we do may not be necessary in healthcare? 30% of the medications that we describe? the procedures? this is something that is for the first time really being called out as a problem. >> dysfunction in the u.s. healthcare industry. dr. marty makary on his book " unaccountable." on c-span 2. >> it is estimated that it would cost -- [indiscernible] [bells ringing] >> i chose to honor both. the sacrifice of american se
, here we go. it's been a busy week. fiscal cliff week for the most part, a lot of other -- that and a lot of other news to talk about today. we have the big job numbers coming up today as well for the month of november. it won't be quiet as critical as the job numbers were. remember that? that was right before the election. but still, it's very important. we'll be on top of that and all of the other issues for you and with you and hearing from you at 866-55-press. >> that's our toll-free number 866-557-7377. follow us on twitter. join us on twitter. more and more people do. at the whitehouse, so many of the reporters were saying how much they love following us on twitter. you should, too, at bp show @bp show @bpshow and facebook/billpressshow. team press here for the fifth day in a row all together. this is a new record action i think. here we are five days. nobody took a day off. peter ogburn and dan henning. >> happy friday. >> and cyprian bowlding wearing god knows what hat this morning. our videographer in chief. >> the washington fue
, with some news, the latest on the rapidly approaching fiscal cliff deadline and what appears to be a stalemate in the negotiationses. in his first interview since the election president obama reiterated his demand that any deal must raise taxes on the highest earners. but yesterday the president also appeared to showroom for flexibility on lowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and further reforms entitlements i'm prepared to make that we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. what i suggest is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain end of 2013 or the fall of 2013 where we work on tax reform. we look at what loopholes and deductions both democr
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with the realities of new taxes that are coming on-line because of health care. the fiscal cliff issues, et cetera. let the speaker do what the speaker does best, and that's negotiate his deal. >> the other michael steele, in this town, which is to say speaker boehner, one of his spokes people, released this tidbit of information, and i stress the word tidbit because it is ever so small. discussions with the white house are taking place, but we have no detail to share about the substance of those conversations. the republican offer made last week remains a republican offer, and we continue to wait for the president to identify the spending cuts he's willing to make as part of the balanced approach he promised the american people. when they are in a room together, do they stare at each other and not talk? presumably like some words are communicated and there is some ball moving somewhere if not forward then to the side? >> i'm going to twitch my eye a little bit. you're going to have to guess which entitlement i'm talking about. i think that's the case. i mean, it seems like part of the boehner str
the fiscal cliff. ktvu house smoker john boehner could be facing an uphill battle within his own -- >> reporter: speaker boehner -- certainly talk here that some republicans could revolt if speaker boehner caves to pressure from the white house to raise tax rates on the wealthiest 2% of americans. and while he's certainly had not agreed to that some are promising to block it. tea party favorite jim says giving into democrats to avoid the fiscal cliff is a temporary solution he's not willing to support. >> republicans should not be conceding the federal government needs more money. >> reporter: we will be hearing from democrats shortly. minority leader nancy pelosi is holding a news conference. we'll have that for you during our next update. reporting live from washington, d.c. alison burns ktvu channel 2 news. >>> a los angeles area fire house is under fire for letting an exdeny letting an exercise company shoot a racy video inside its station. the video by hoopnautic.com shows a scantily dressed woman dancing around. the station was also in trouble last year for allowing some fi
and how much spending there will be will change completely because the fiscal cliff will be in effect and it is going to result in more than $500 billion in tax increases and spending cuts. so it could be hard to get the parties together in deciding how to change that in january. >> jean is following this very closely on cnnmoney.com. go there to get a good understanding of what this fiscal cliff is all about. thanks, jean. >>> word is that elizabeth warren, the brand-new senator-elect from massachusetts is angling to be appointed to the senate banking committee. i hope that happens. the consumer crusader is just what the committee needs. she was president obama's pick to run the newly created consumer finance protection bureau, which she designed, but republican senators on capitol hill refused to even consider confirming her. instead, they did their best to drive her out of town. >> so it has gone beyond your advice to treasury, you're also providing advice to other governmental agencies? >> congressman -- >> i understand, you can use the word congressman a number of times, miss war
to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed conservatives say this is something that would help job growth. clearly what we're seeing here is republicans are not speaking with one voice. >> republicans should not be conceding that the federal government needs more money, negotiating with ourselves and treating the president's proposal like it's serious. >> we do agree that 8% of the american people are getting about 80% of this tax cut shouldn't have their taxes raised. my suggestion was let's take the one area we agree and take it off the table. >> but zoraida, as you saw there from the president earlier in that bloomberg interview, he is digging in, saying there can't be a deal unless upper income americans pay more. middle-class americans should get the bush era tax cut extension. is he not backing down from that at all. the president saying in that interview that he's not
's talking about what will happen to the auto industry if the country falls off the fiscal cliff. let's take a live look now. the president's motorcade is expected to arrive any minute now, then he will be heading to detroit. there's some new hope for a deal after the president and house speaker john boehner held their first one-on-one meeting at the white house in weeks yesterday. now, both sides are mumm about the negotiations -- are mum about the negotiations but say the lines of communications are open. they have 20 minutes to reach an agreement even if they come up with a plan, the international monetary fund says a more constant solution is needed to maintain the economy. >> there's still that uncertainty that fuels doubt, that prevents investors, entrepreneurs, households from making decisions. >> a politico poll out this morning shows president obama has the most leverage in these negotiations. he is demanding a tax increase for american households that make over $250,000 a year. and this poll shows 60% of americans support that idea. reporting live from washington, d.c., alison burn
. voters seem to favor the president. a new poll shows that 53% trust president obama to avoid the fiscal cliff compared to just 36% for republicans. let's bring in juan williams. he -- is it to make sure the republican take the blame for whatever happens? >> no. i will say this, the reason the president has been out campaigning is to amp up the politicallpressure on republicans and let them feel the heat from the public as a prospect that they would but taxes go up on everyone wheee there is a deal that would keep taxes down for 98% of the public. dagen: what about sticking to their guns? the president said he will not cut a deal without raising taxes on the wealthier americans. maybe they go off a little bit. is that a compromise that both sides would be willing to, well, eat? >> that is exactly the compromise that everyone around washington is discussing. the number that everyone is focusing on is the 37%. you also have, as part of that package, discussions about exactly how much, dagen, they would cut in terms of entitlement. dagen: secretary geithner caught in an interview that he ga
of u.s. stocks next. >>> and as the fiscal cliff turns, president obama campaign style once again today. this time in michigan. that after talking with house speaker john boehner over the weekend. their firps one on one in weeks. is that why republicans are saying they would swallow higher taxes for the right deal on spending cuts? we'll talk to tom cole who is making that case in just a few minutes. >>> bmw and mercedes are looking for the best selling luxury brand in the united states. wait until you hear what your money can get you these days. you're watching cnbc. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is q rea this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >>> is the u.s. consumer in trouble? the front page on this morning's "wall
be about 2.2%. 2% maybe if we're luck in next year. the new normal even with high taxes doesn't look good. >> yeah. let's hope it's higher than that i think it's going to be a bumpy 60 days in my view. fiscal cliff. as low as that 2% is. the awful state of the world right now is that is about the fastest growth rate of every advance the country on earth. that tells you exactly why the unemployment rate remains high and it comes down, you know, some as we saw in the jobs data today but not that fast. you know, i would say overall it's just moderately good news. >> austin, obviously you are not talking about china when you made that reference. china's economy. what did it grow at 7.2% recent numbers something like that? it's down a little bit. i will take those numbers. >> official numbers are. >> china growing at much faster rate than we are still with its own challenges. >> a whole lot poorer. starting from a whole lot lower base. of all the advanced country which i wouldn't count china's income is about -- >> laura: their economy is about to surpass ours. among the economists that's not
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